Industries Minister Jupally Krishna Rao has warned the politicians and officials that the State government would initiate action if approvals for industrial projects were delayed even for a day.
Addressing the valedictory of a two-day seminar on the new industrial policy of the Telangana State, Mr. Rao assured that there will be no red tape in giving permissions to industries. The industrial policy of the government was the best in the country with respect to sanctions, incentives and handholding the downtrodden which will get Rs. 75 lakh as seed money.
Promoting industry would no longer be a difficult task as the Chief Minister, K. Chandrasekhar Rao, has made the policy transparent and hassle-free.
Referring to the adverse propaganda all over the country that Telangana was not suited for industry as it was power deficit, Mr. Rao said it was true that the State faced power shortage, but its generation capacity will go up to 20,000 MW in the coming three years against the aggregate capacity of 12,000 MW in the last six decades.
Vice-Chancellor of Institute of Chartered Financial Analysts of India J. Mahender Reddy said there was potential for inclusive growth as people had a lot of expectations from the new State.
